Or at least kind of... 

A wild report from The Information (subscription required) claims Google is working on a subscription-based gaming streaming service, delivered either over Google's Chromecast devices or via a totally new Google-made gaming console.

The service is codenamed "Yeti," and it would be similar to streaming services like PlayStation Now—users would pay a subscription fee to access a collection of games, which are run on a remote device and streamed over the Internet. The Information notes that "an early version" of this service was designed to work over a Chromecast, which is interesting since it's unclear how a game controller would ever hook up to a Chromecast. More recently, Google has reportedly started experimenting with a Google-developed game console and controller. The project is being led by two Google hardware executives—Mario Queiroz, VP of product management, and Majd Bakar, VP of engineering—so if this ever sees the light of day, new hardware seems likely.

https://arstechnica.com/gadgets/2018/02/report-google-considering-a-game-streaming-service-console-hardware/

I wonder how the talk of MS looking for acquisitions got started, because maybe MS might be looking to counter this thing via a Game Pass stream service. I wonder what the extent of this console will be. Streaming only, or will it be able to play games standalone as well? Is Google attempting to be a 4th player in consoles?

What's with every company wanting to stream games through the internet? Digital distribution is weak enough in some areas as it is, and with the Internet still wondering if Net Neutrality is going away or not, do they realy think this is a viable idea?

That worked out for Gametap or I mean Onlive!

"subscription-based gaming streaming service" = meh.

Give us a real console instead?

Well, quite expected...though I wasn't expecting them as soon. But if anyone has the resources for streaming based gaming service, it's certainly Google.

It's been 16 years since anyone entered/exited the console industry.

It would be refreshing to have a fourth player in the console space. After all, competition drives innovation.

Well, the thing that's got people's eyebrows raised is that they hired Phil Harrison and the code name itself refers to being a "beast of a [streaming] service". Which makes people think they could be shooting for something higher than a mere Play store device that comes with a controller. It's all speculation for now, but they have enough in the bank to cause a real disruption to the current market. Is a Netflix-type console the beginning of the end? Because I figure Google is going to sell it... hard.

Competition can also lead to drive out other companies.

Ask Sega.

Nintendooom!

It's going to go nowhere.

Anyway, idiots like Rerez got it wrong again.